CoinDesk Podcast Network The Blockspace Pod: The Conspiracy Was True: Operation Chokepoint 2.0
Dec 3, 2025
A recent House report sheds light on the controversial Operation Chokepoint 2.0, revealing a coordinated effort to debank the crypto industry. The discussion highlights how early warnings from Nick Carter were dismissed by mainstream media but later proven true. They explore the impacts of FDIC pause letters and the regulatory maze created by the Biden administration. As banks continue to face scrutiny, the hosts also delve into the political ramifications for crypto campaign spending and the industry's future in the US banking system.
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House Report Validates The Conspiracy
- A House report confirms a coordinated, extralegal effort called Operation Chokepoint 2.0 targeted crypto with debanking tactics.
- The industry’s prior claims of a conspiracy were validated with formal documentation and memos.
How The Story Was First Exposed
- Nick Carter broke the story based on off‑the‑record conversations with industry insiders and clients.
- Charlie and Colin say insiders trusted Carter because he understood the plumbing and would respect confidentiality.
Regulatory Maze, Not Clear Rules
- Regulators created a regulatory maze by warning banks of risks without clear, actionable rules to comply with.
- That ambiguity trapped banks in perpetual review and discouraged crypto relationships.